Industry NewsMortgage

Homebuyer tax credit off the radar

GAO puts bill for program at $22 billion through 2019
Published on Sep 3, 2010

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by CareyBot

There's no serious talk of reinstating the homebuyer tax credit, the White House and real estate industry trade groups say, quashing speculation that followed statements Housing Secretary Shaun Donovan made on a Sunday morning news show.

Appearing on CNN's "State of the Union" on Aug. 29, Donovan said July's housing sales numbers were worse than expected. The Obama administration was rolling out a new FHA refinancing program targeted at underwater borrowers, he said, and an emergency loan program aimed at helping unemployed borrowers keep their homes.

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